Bhopal (Madhya Pradesh) [India], Jan 24 (-NewsVoir): It's quite understandable that the rules and regulations of the Reserve Bank of India make it a challenge for a new financial company to be able to offer loans. The good news, with hard work and the right kind of support it is possible to be achieved.
Prodigee Finance Limited recently crossed that milestone and received their NBFC license from RBI, making it possible for the firm to provide Small and Medium sized Enterprises (SME) loans as part of their services.
Prodigee Finance Limited thanked Enterslice for their valuable help during the entire process. Both financial companies are enthusiastic about the news.
"We are happy that with the help of Enterslice, we successfully managed to get NBFC license," commented Mr. Amit from Prodigee Finance. "I'm sure it will help borrowers who don't have access to credit in our region."
According to the Bhopal-based company, the goal at Prodigee Finance Limited is to provide SMEs loans that they likely otherwise would not have had available, energising the local economy. By making access to small business loans more simple, and going above and beyond best industry practices when processing loan requests, the non-deposit taking NBFC could have a very powerful positive impact in the extended Bhopal area and beyond.
"We congratulate Prodigee Finance for receiving NBFC license from RBI. Nowadays it is very tough to get the license from RBI without a proper business model and a lot of compliance in place. It was a good project for us to work with Amit," said Narendra Kumar from Enterslice.
Enterslice is a legal technology company that specialises in helping entrepreneurs in starting successful businesses around the world. (-NewsVoir)
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds.